⚓ Your Weekly Maritime News - 22

Exclusive Insights on Container Shipping, Market Trends, and Strategic Guidance

Dec 10, 2023

Greetings, Esteemed Mariners! ⚓

Welcome aboard the Maritime Mastery Express, your weekly gateway to a profound exploration of the dynamic realm of container shipping. Chart your course ahead with Maritime Insight Pro's exclusive industry intelligence, navigating through the surges of the latest news and updates! 🚢

Immerse yourself in the ocean of maritime expertise with us – where every revelation is a strategic gem waiting to be unearthed! 🌐

Today's Wisdom from the Waves: 🌊

"To reach a port, we must sail—sail, not tie at anchor—sail, not drift." - Franklin D. Roosevelt🐠

🚢 Navigating Knowledge: Container Shipping Quiz Time! 🚢

*Last Week’s Answer: All of the above.

1- Drought in the Panama Canal - BBC World News interview with Peter Sand

2- Maersk Ocean Vs. Logistics Vs. Terminals

3- Major Carriers Increase Ownership Share in 2023Q3, MSC Dominates with 52% via MDS

Share of capacity owned by major carriers rises in 2023Q3 compared to the same period in 2022.
MSC (Mediterranean Shipping Company) sees a significant increase, now owning 52% of its fleet, up from 42% in 2022Q3.

🚢 Cast Your Vote: Container Shipping Insights Poll! 🚢

Last Week’s Insight: 50% prefer joint ventures with logistics firms for future benefits in container shipping, while the remaining 50% favor alliances with other shipping companies.

4- Hapag Lloyd’s Regional Sea-Freight per TEU Performance towards Q3/2023

5- Southern EU States Challenge EU Shipping Emissions Charge

Seven EU countries, including Spain and Italy, oppose EU plans to charge ships for emissions, fearing trade diversion and limited environmental benefits.
Concerns raised about potential loopholes and trade diversion to non-EU ports.
EU's emissions trading scheme (ETS) aims to tax shipping emissions incrementally, with an estimated annual revenue of over €7 billion.
Environmental and trade experts argue against significant trade loss, emphasizing a low risk of vessels diverting to non-EU ports.

6-Top 50 Global Importers 2022: Trade Surpasses $25.6 Tn

Global imports in 2022 reached $25.6 trillion, equivalent to the U.S. GDP.
Global trade enhances consumer choices and reduces the cost of goods, fostering economic growth.

7-Carrier Results Drop, But Context is Key via Sea-Intelligence

Major shipping lines report sharp year-on-year revenue drops in 2023-Q3, with the smallest contraction being -51.8%.
Comparing 2023-Q3 to 2019 on an annualized basis, the revenue contraction reflects a return to pre-pandemic levels after abnormal growth in 2021-2022.
EBIT/TEU drops to pre-pandemic levels, with COSCO leading at 289 USD/TEU, followed by Hapag-Lloyd (64 USD/TEU) and HMM (52 USD/TEU).
Maersk records a small negative EBIT/TEU (-4 USD/TEU), while ZIM reports a significant negative EBIT/TEU (-2,625 USD/TEU)

8-Container Shipping in Q3/23: Industry in Financial Turbulence

Revenue Slump: Major players face a challenging 3Q23, with 11 liners experiencing a 54.6% YoY decline in revenue.
Cost Reductions: Operating costs decreased by 18.1% YoY due to lower chartering and bunker prices.
EBIT Plunge: Despite cost reductions, overall Earnings Before Interest and Taxes (EBIT) plummeted by an average of 94.1% YoY.
Drewry Index Decline: The Drewry Container Equity Index dropped by 28.1% YTD, reflecting the industry's financial struggles.
Regional Impact: Container companies with exposure to China saw more positive performance, influenced by the Chinese government's fiscal stimulus.